Salient features of the KCC Scheme

• Farmers to be provided with a KCC and a pass book

or card-cum-pass book.
• Revolving cash credit facility.
• Limit on the basis of operational land holding,
cropping pattern and scale of finance.
• Limit for entire production credit needs for full year
plus ancillary activities related to crop production.
• Card valid for 3-5 years subject to annual review.
• Withdrawals through slips/cheques accompanied by
card and passbook.
Salient features contd.....
• Each drawal to be repaid within 12 months.
• Conversion/reschedulement of loans in case of
damage to crops due to natural calamities.
• Security, margin, rate of interest, etc. as per RBI
norms.
• Operations may be through issuing branch and also
through other designated branches at the discretion
of bank.
• KCC loans for notified crops covered under RKBY.
 Difference between FEMA and FERA
Differences FERA FEMA
1. Provisions Complex 81 Sec Simple 49 Sec

2.Definitions Current A/c not Current a/c,

defined service all defined
Narrow Definition Has been
3.Authorised widened
Person to include banks

4.Compatibility Not dealt Considers resident

with IT in India similar to
IT
5.Punishment type Criminal offence Civil Offence, with
monetary fine

6.Quantity of 5 Times the Amt. 3 times the

monetary penalty Amt.

7.Appeal AA went to high Special dir.

Court (appeals), Appelate
Tribunal / High C
8.Right of No help allowed Sec 32 gives rt to
assistance help of legal
practitioner
 Roles and Responsibilities of a Bank Clerk

• Handling cash counter daily transactions such cash deposits,

cash withdrawals, cheque deposits etc.
• Data entry of the various day to day activities such as pension
records, maintaining daily account statements etc.
• Debit card issue and re-issue, helping customers with deposit
account opening, withdrawal, and closing.
• Helping customers with the opening of saving accounts,
recurring, Fixed deposits and current accounts.
• Marketing of Bank products.
• Increasing Bank business & helping in recovery of Bank loans.
 DUTIES OF SPECIAL ASSISTANTS (SA)
• The duties of Special Assistants will be accountable and responsible for running of
the department/section under them and their duties will involve looking after and
checking the work of other clerk or clerks and substaff and will include:
1. Passing independently, manually or online, cash instruments up to Rs. 35,000/-
and clearing and transfer cheques, vouchers etc., (whether credits or debits) up
to and including Rs. 1,50,000/-. Passing will include verification of signatures and
scrutiny as to the correctness of endorsement on and other particulars of such
instruments. There shall be no limits for verification of signatures, passing
authenticated credit vouchers/ entries and verifying authenticated vouchers in
the ledgers, books, computer print-outs etc.
2. Accept, verify and post cash/ transfer/clearing cheques and other instruments, as
the case may be, in appropriate of accounts/ ledgers, either manually or online
and give due acknowledgements.
 DUTIES OF SPECIAL ASSISTANTS (SA)

3. Signing vouchers, checks, drafts, mail transfers, pay orders,

advices such as non payment advices, inter branch fate calling
advices, bill schedules, demand notices, statement certificates
etc.,
4. Checking all vouchers, advices, statements, cheques, drafts etc.,
bill and books of accounts including current savings and other
ledgers, cash, postal and revenue stamps, franking machine
balances, exchange, discount, brokerage calculations and initialing
by way of authenticating them for accuracy/ correctness;
5. Checking, manually or online, current, savings and other
accounts.
6. Checking the coding and decoding of telegram (Excluding
cheque symbols or ciphers)
7. Discharging, endorsing cheques, bills, etc,
8. Perform when required in a computerized set up, system
control functions either jointly with an officer and independently,
upon specific authorization in this regards;
DUTIES OF SPECIAL
ASSISTANTS (SA)
9. Briefly explain, the features so bank’s various products and services
to customers, to reply their queries and to refer interested to
appropriate personnel.
10. Inspecting godown (only in banks where such work is already done
by the workman)
For the purpose of efficient and effective functioning of the section or
department the special assistant shall ensure that all acts, things and
steps necessary therefore are taken by himself or by the clerks placed
under him and shall ensure that, wherever necessary:
a. Reminders are sent on time and follow up
b. Pass sheets/books are filled up and issued promptly
c. Deposits are renewed on due dates or reminders sent to the parties
 WHAT IS IRAC?

• A policy of income recognition on the

basis of record of recovery rather
than on any subjective considerations.

• The classification of assets of banks

on the basis of objective criteria
ensuring a uniform and consistent
application of the norms

07/03/2023
 IRAC NORMS OF RBI

According to Reserve Bank of India guidelines

on
 Income Recognition ,
 Classification of assets, and
 Provisioning,
 
assets of a Bank are classified as

A. Performing assets
B. Non-performing asset (NPA)